Sportingbet, Plc. shares plummet after reopening today

Sportingbet, Plc.'s shares took a significant hit today after resuming trading for the first time since the company asked that trade be suspended last week when its non-executive chairman was detained in the United States.

Shares for the company, which owns Paradise Poker, fell 41% on the London Stock Exchange today, trading at 141.88 pence compared to 239 pence when trade was suspended Sept. 7.

The price drop is a result of the arrest of Peter Dicks who was detained in New York last week upon his arrival on a flight from London. Customs officials discovered a warrant issued by Louisiana authorities charging the Sportingbet, Plc. chairman with illegal Internet gambling.

Dicks was released on $50,000 bail Friday while he waits for a hearing on Sept. 14 that will discuss whether or not he will be extradited to Louisiana.

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